Ocular Therapeutix, Inc. (NASDAQ:OCUL) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Ocular Therapeutix, Inc. has received a consensus rating of "Buy" from six brokerages, with an average 12-month price target of $17.83.
• Insider transactions include sales by Jeffrey S. Heier and Peter Kaiser, who sold shares at an average price of $12.04, marking a slight decrease in their ownership.
• The company reported a quarterly earnings miss with an EPS of ($0.39), and a revenue decrease of 17.7% year-over-year, despite exceeding revenue expectations of $13.12 million.

Shares of Ocular Therapeutix, Inc. (NASDAQ:OCUL - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.8333.

Several analysts have issued reports on the company. Scotiabank cut their price objective on Ocular Therapeutix from $22.00 to $20.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC increased their price target on Ocular Therapeutix from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Chardan Capital initiated coverage on Ocular Therapeutix in a research report on Monday, September 15th. They set a "buy" rating and a $21.00 price target on the stock.

Insider Transactions at Ocular Therapeutix

In other news, insider Jeffrey S. Heier sold 3,063 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total transaction of $36,878.52. Following the sale, the insider directly owned 259,911 shares in the company, valued at approximately $3,129,328.44. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Kaiser sold 3,011 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $12.04, for a total value of $36,252.44. Following the sale, the insider owned 204,093 shares in the company, valued at $2,457,279.72. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,519 shares of company stock worth $367,865. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ocular Therapeutix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in Ocular Therapeutix by 19,194.3% in the 2nd quarter. Osaic Holdings Inc. now owns 67,530 shares of the biopharmaceutical company's stock worth $627,000 after buying an additional 67,180 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Ocular Therapeutix by 96.6% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 61,995 shares of the biopharmaceutical company's stock worth $575,000 after buying an additional 30,460 shares in the last quarter. Marex Group plc bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $115,000. Hudson Bay Capital Management LP bought a new position in Ocular Therapeutix in the 2nd quarter worth approximately $502,000. Finally, Second Line Capital LLC grew its holdings in Ocular Therapeutix by 11.4% in the 2nd quarter. Second Line Capital LLC now owns 385,467 shares of the biopharmaceutical company's stock worth $3,577,000 after buying an additional 39,369 shares in the last quarter. 59.21% of the stock is owned by institutional investors.

Ocular Therapeutix Trading Down 6.7%

Shares of NASDAQ OCUL opened at $11.69 on Wednesday. The stock's 50 day moving average price is $12.35 and its two-hundred day moving average price is $9.66. Ocular Therapeutix has a 52-week low of $5.78 and a 52-week high of $13.85. The stock has a market capitalization of $2.03 billion, a P/E ratio of -9.13 and a beta of 1.50. The company has a quick ratio of 10.02, a current ratio of 10.10 and a debt-to-equity ratio of 0.23.

Ocular Therapeutix (NASDAQ:OCUL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). Ocular Therapeutix had a negative net margin of 382.51% and a negative return on equity of 71.92%. The firm had revenue of $13.46 million for the quarter, compared to analyst estimates of $13.12 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The company's quarterly revenue was down 17.7% compared to the same quarter last year. On average, analysts anticipate that Ocular Therapeutix will post -0.98 earnings per share for the current fiscal year.

Ocular Therapeutix Company Profile

Ocular Therapeutix, Inc, a biopharmaceutical company, focuses on the formulation, development, and commercialization of therapies for diseases and conditions of the eye using its bioresorbable hydrogel-based formulation technology in the United States. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.

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